regulation Compliance & regulation BIMCO
BIMCO has drafted guidance on best practice for ESG metrics in relation to shipping and we are now inviting members to take part in the consultation. Share your views and help shape practical ESG metrics for the shipping industry. BIMCO invites members to review new draft ESG metrics guidance Shipping companies face a wide range of ESG reporting expectations. Some are required to report under the EU Corporate Sustainability Reporting Directive (CSRD) and are already subject to extensive data point requirements, while others operate under different national ESG reporting regimes outside Europe. In addition, many smaller shipping companies engage voluntarily with ESG disclosure initiatives or are increasingly required to respond to diverse ESG data requests from business counterparties. Existing ESG standards and reporting frameworks are largely designed for broad applicability across industries. As a result, shipping companies often face challenges in applying metrics and concepts that are rooted in land-based sectors. At the same time, the few existing sector-specific ESG standards and guidance documents for shipping typically focus on specific sustainability issues and therefore capture only a fraction of the industry’s overall complexity. This leaves shipping companies to interpret various ESG standards and translate them into metrics that are meaningful in an international shipping context. To help make the use of ESG metrics more practical for the global shipping industry, BIMCO has developed a Guidance on best practice for ESG metrics in relation to shipping. BIMCO is now inviting members to review the draft guidance before it is finalised. The guidance is intended to provide practical, shipping‑specific metrics that can help structure ESG discussions and data requests in a way that reflects maritime operations, regardless of whether a company is subject to mandatory reporting requirements, engages with ESG disclosure initiatives on a voluntary basis, or is req
Have your say – Consultation on new BIMCO ESG metrics guidance
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